Scam Sniffer reports a staggering 1900% increase in thefts from Base due to phishing scams since January

Phishing scams on Ethereum layer 2 Base have experienced a significant surge in cryptocurrency funds stolen, with an 18-fold increase in March compared to January, according to recent data. A total of $3.35 million was stolen in March alone, marking a 334% increase from February’s tally of $773,900 and a massive 1,880% spike compared to January’s $169,000 loss. Binance’s BNB Chain also observed a similar surge in phishing scams in March. Across all chains, approximately $71.5 million was lost to phishing scammers from 77,529 victims, surpassing the tallies of January and February. Fake X accounts remain a primary tactic, with over 1,500 incidents detected in March. Despite the rise in phishing scams, crypto hack thefts actually decreased by 48% in March to $187.2 million, with recoveries amounting to $98.8 million. However, there were notable losses, including $40 million from Curio’s MakerDAO-based smart contract and $11.6 million from Prisma Finance. The industry is taking steps to combat these hacks, with the formation of the ‘SEAL 911’ team of white hats to fight crypto hacks in real time.